If you have a traditional retirement plan at work, it is most likely a qualified plan, like a 401(k), 403(b), or SIMPLE IRA. A non-qualified account is money you’ve already received through income sources and paid income tax on it, but the gains are subject to taxes in the future. Your savings account at Chase Bank earning 0.01%-0.02% APY is a non-qualified account, as is your brokerage or trust account, deferred-compensation plan, executive bonus plan, or split-dollar life insurance.
Interest, dividends, and capital gains affect your adjusted gross income (AGI), and it’s important to factor this in when properly addressing your tax planning needs.
By reviewing the taxable non-qualified account(s) income checklist linked below, you can gain a comprehensive understanding of your options to coordinate the taxable income in your non-qualified portfolio with other tax planning goals, providing you with a sense of reassurance about your financial planning.
This checklist covers important factors when reviewing your non-qualified portfolio income, such as:
- Taxable interest
- Tax-exempt interest
- Ordinary and qualified dividends
- Realized long- and short-term capital gains/losses
- Unrealized long- and short-term capital gains/losses
- Tax loss carryforwards from prior years
- Anticipated capital gains distributions from mutual funds
For more than two decades, the advisors at Hurlow Wealth Management Group have helped Midwest Millionaires prepare for non-qualified income distributions and avoid uncomfortable surprise tax bills. Schedule an introductory call today if you want guidance in managing taxable expectations.


